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Economic and Social Research Institute says economy will grow strongly next year

The Economic and Social Research Institute has said the economy will grow strongly next year, despite the fall in the value of goods exports due to some pharmaceutical products coming out of patent protection.

It said the impact of the "patent cliff" is mainly felt in the profits of US multinationals, not the Irish economy.

The ESRI pointed to employment growth and falling numbers on the Live Register as evidence that the real economy is set for higher growth than suggested by the headline figures.